BCA Marketplace's stock price just rose sharply after a £1.6 billion bid to purchase the company, which BCA then turned down.
Recently, BCA Marketplace confirmed an acquisition bid from private equity investor Apax Partners in May, offering 200p per share – a premium of around 11p on the month’s average share price.
On Monday, BCA said it had rejected the initial offer, and had yet to receive a renewed proposal from Apax.
Share price has been rising ever since what BCA called “media speculation” around the bid. It peaked at 236p on Monday, up 22% from a month earlier, and was 229p at the time of writing.
This pushed BCA’s market capitalisation to £1.8bn, around £200m higher than what Apax’s offer valued the company.
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